Dec 26, 2009

Daily Markets - Financial News & Opinions

Daily Markets - Financial News & Opinions

Video: The Week Ahead

Posted: 26 Dec 2009 02:00 AM PST

The stories,data, and stocks that may have the greatest impact during the next trading session. … [visit site to read more]


Gold, US Dollar And Euro: A Love Triangle To Continue Into 2010

Posted: 25 Dec 2009 07:01 PM PST

Gold hit a 7-week low on Dec. 22 from recent optimistic data of the U.S. economy.  For example, U.S. existing housing sales jumped more than expected, and GDP grew at a 2.2% rate in the third quarter, the fastest pace in two years, amid a larger-than-expected downward revision.  The upbeat news lifted the dollar and pushed yellow metal prices to below the $1,100 benchmark. (Fig. 1)

Bullion has gained 23% this year on a strong inverse relationship to the Dollar as the longest … [visit site to read more]

Transport Your Money Into This Natural Gas Industry

Posted: 25 Dec 2009 06:01 PM PST

Most commodity investors know by now that natural gas prices took a major hit over the past two years.

And with production stalled around the world, very few people expect it to rise much more than the $2 per MMbtu it managed to climb this year.

But the natural gas industry still holds pockets of wealth, if you just know how to access them.

Since prices rose back to $5 per Mmbtu in late September after slumping since January, companies have recommitted to drilling projects and … [visit site to read more]

Understanding Portfolio Risk Management

Posted: 25 Dec 2009 05:01 PM PST

One of the most basic tenets of portfolio risk management is, do not lose money. Understanding the risk, you are assuming and how you intend to mitigate this risk is what separates successful investors from those that never make any money.

There are several types of portfolio investing risk. Knowing the risk is the first step to making better investing decisions.

Macro Risk Categories

In a macro sense, there are two types of risk. Systematic risk, also known as market risk is the risk … [visit site to read more]

Christmas Trees From Around The World

Posted: 25 Dec 2009 04:30 PM PST

The Capitol Christmas tree in Washington , D.C. , is decorated with 3,000 ornaments that are the handiwork of US choolchildren. Encircling evergreens in the “Pathway of Peace” represent the 50 US states.

The world’s largest Christmas tree display rises up the slopes of Monte Ingino outside of Gubbio, in Italy ’s Umbria region.
Composed of about 500 lights connected by 40,000 feet of wire, the “tree” is a modern marvel for an ancient city.

A Christmas tree befitting Tokyo’s … [visit site to read more]

Cartoon: Shopping Around For A Rip-Off Bank

Posted: 25 Dec 2009 04:19 PM PST

Source: Kipper Williams, Guardian, December 23, … [visit site to read more]

China Secures Gas Supply From Turkmenistan: Who’s The True Winner?

Posted: 25 Dec 2009 04:01 PM PST

On December 14, 2009, an inauguration took place that deserves more attention than it received because it marks an economic power shift to the benefit of three Central Asian countries and China and to the detriment of Russia.  The presidents of China - Hu Jintao, Turkmenistan - Gurlanguly Berdymukhamedov, Kazakhstan - Nursultan Nazarbayev, and Uzbekistan -Islam Karimov, inaugurated the Central Asia-China gas pipeline that links Turkmenistan’s natural gas fields on the Caspian Sea to … [visit site to read more]

Finish Line Posts Q3 Profit

Posted: 24 Dec 2009 09:37 AM PST

Mall-based specialty retailer The Finish Line Inc. (FINL) swung to a GAAP net income of  $6.6 million during fiscal 2010 third quarter, from a GAAP net loss of $8.8 million in the year-ago period primarily due to a income tax gain. Excluding the gain, the company recorded breakeven earnings per share, compared to a loss of 12 cents per share last year. The result came in well ahead of the Zacks Consensus Estimate for a 10-cents loss. Shares of Finish Line increased nearly 9% after the … [visit site to read more]

Wells Fargo Exits TARP

Posted: 24 Dec 2009 09:21 AM PST

On Wednesday, Wells Fargo & Co. (WFC) finally exited the Troubled Asset Relief Program (TARP) by repaying the entire $25 billion that it had taken as aid in October 2008. Accordingly, the company bought back the $25 billion of series D preferred stock issued to the US Treasury under the TARP and also paid accrued dividends of $131.9 million as part of the redemption. Last week, Wells Fargo had sold 489.9 million new shares of its common stock at $25 each, raising $12.25 billion to help … [visit site to read more]

M&I Extends Foreclosure Suspension

Posted: 24 Dec 2009 09:05 AM PST

On Tuesday, Marshall & Ilsley Corp. (MI), commonly known as M&I, announced the extension of its foreclosure moratorium term by an additional 90-day period. The moratorium was initiated on Dec 18, 2008, as a part of the Homeowner Assistance Program. The foreclosure suspension now ends on Mar 31, 2009.
The notice came as a breather for many homeowners distressed by the loan repayment issues. The foreclosure suspension is currently on all owner-occupied residential loans for customers … [visit site to read more]

Rating Action On Prudential

Posted: 24 Dec 2009 08:49 AM PST

Earlier during the week, Fitch Rating affirmed the “BBB+” long-term issuer default and the “BBB” senior debt ratings on Prudential Financial Inc. (PRU) and improved its outlook to "stable” from "negative”. The rating action follows the announcement made earlier during the month by Wells Fargo & Co. (WFC) to purchase the 38% stake of Prudential in its retail brokerage joint venture (JV), Wells Fargo Advisors, for a cash payment of $4.5 billion. The deal is likely to close by Dec 31, … [visit site to read more]

Rating Action On Delphi

Posted: 24 Dec 2009 08:33 AM PST

On Tuesday, rating agency A.M. Best affirmed issuer credit rating (ICR) of "bbb” and "a” for Delphi Financial Group Inc (DFG) and its primary life insurance subsidiaries, Reliance Standard Life Insurance Company and First Reliance Standard Life Insurance Company. The financial strength rating of "A” for Delphi has also been affirmed. A.M. Best has also affirmed all debt ratings of Delphi Financial and Reliance Standard Life Global Funding. The outlook of all ratings remains … [visit site to read more]

Newmont Sells Interest

Posted: 24 Dec 2009 08:18 AM PST

Newmont Mining Corporation (NEM)'s subsidiary, Newmont Indonesia Limited together with Nusa Tenggara Mining Corporation (an affiliate of Japan's Sumitomo Corporation), has completed the sale of 7% of PT Newmont Nusa Tenggara for the 2008 divestiture to PT Multi Daerah Bersaing, a consortium comprised of regional and local governments near the Batu Hijau mine, and PT Multicapital (a private company). With this divesture, Newmont ended the dispute with the Indonesian government over selling … [visit site to read more]

Citi Repays $20B Bailout Money

Posted: 24 Dec 2009 08:01 AM PST

Yesterday, Citigroup Inc. (C) announced that it repaid $20 billion in bailout money. The company is now free of pay restrictions on its key executives. The pay rule restrictions were a major hindrance for Citi in keeping back its skilled workforce.
 
Citi had received $45 billion in bailout money from the government for its participation in the Troubled Asset Relief Program (TARP) at the height of the credit crisis last year. Later, around $25 billion of that was converted into common … [visit site to read more]

Capital One Upgraded

Posted: 24 Dec 2009 07:46 AM PST

We are upgrading our recommendation on Capital One Financial Corp. (COF) to Outperform. The company's third quarter earnings were substantially ahead of the Zacks Consensus Estimate, driven primarily by higher-than-expected revenue and almost stable expenses. However, an increase in provisions and a decrease in average deposits were on the downsides.
 
We think that the full repayment of the bailout money and the warrants sell-off by the Treasury department will help Capital One get … [visit site to read more]

Tata Motors Shares Hit Year High

Posted: 24 Dec 2009 07:30 AM PST

Tata Motors' (TTM) shares reached year-high level on Dec 23 on the back of optimistic views revealed by the company. The shares rose 43 cents to $16.13 on Dec 23 compared to Dec 22.
 
Earlier this week, Tata Motors revealed that it expects to expand its market share in utility-vehicle space by 3% with the introduction of its Grande MKII utility vehicle. According to Dow Jones, the MKII could raise Tata’s utility-vehicle sales by about 30%. The company also expects to deliver 100,000 … [visit site to read more]

Cognex Inks Deal With BMW

Posted: 24 Dec 2009 07:15 AM PST

Cognex Corporation (CGNX) recently announced that it has signed a supply agreement with German automaker BMW AG. 

Under the terms of the multi-year agreement, Cognex will supply its leading products DataMan handheld and In-Sight fixed-mount ID readers to BMW manufacturing plants worldwide.
 
DataMan and In-Sight image-based ID readers provide high-reliability reading of 1D and 2D codes in a wide range of applications, from the easiest-to-read high contrast codes that are printed … [visit site to read more]

Conexant Completes Debt Redemption

Posted: 24 Dec 2009 07:00 AM PST

Conexant Systems, Inc. (CNXT) recently announced that it has completed the previously announced planned redemption of the remaining $61.4 million of outstanding aggregate principal amount of its floating rate senior secured notes due in November 2010. 

The total aggregate redemption amount paid was $62.3 million, including accrued interest. The company funded the redemption with cash on hand.
 
Earlier, the company retired an aggregate amount of $80 million of its senior secured … [visit site to read more]
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